Singapore greentech startup nets $1.4m in seed funding

SGRecycle, a Singapore-based greentech startup, secured seed money of US$1.4 million in a round led by Tai Hing Group.

Founded in 2020, the startup is working to deploy a network of smart recycling stations in Singapore. It currently has stations set up in 30 locations across the country, which leverage built-in sensors and cloud technology to detect and weigh paper waste to be recycled.

Photo credit: SGRecycle

Users can register through the company’s website or at any SGRecycle station by scanning a QR code. After logging in at the station and depositing their paper waste, users receive reward points, which they can redeem via platforms like PayNow, PayLah, or EZ-Link.

Through its smart recycling stations, SGRecycle aims to increase the country’s recycling rate by 5% to 10%. It adds that the recycling rate has been at an all-time low since the onset of the Covid-19 pandemic.

“This reduces the risk of Covid-19 infection and also increases the general public awareness of returning their trash for cash, [and at] the same time saving our environment together. Everyone plays a part in this ecosystem in line with [the] Singapore Green Plan 2030,” said SGRecycle co-founder Rexston Looi in a statement.

The startup added that it has plans to incorporate facial recognition and solar panels into its recycling stations in future deployments.